Rent Caps Part Two - President Biden recently announced a 5% cap on apartment rents, though there was some confusion as he struggled to read '5%' on the teleprompter, accidentally suggesting a $55 cap. This raises questions about the effectiveness of rent caps in addressing America's housing crisis. What implications will this have for future development? Do rent caps have a successful track record, such as in New York? It's worth pondering why, if the President views rent caps as a definitive solution to soaring housing costs, why he did not implement this measure back in 2021 when the average rent was around $1,150 per month, in contrast to the current average of approximately $1,411 per month. The timing of this policy, introduced less than four months before the Election after three and a half years of inflation, is also noteworthy. Did you know the podcast is now available on the YouTube channel?  Please search @crehelp and subscribe to keep up with CRE #shorts. Please subscribe to this weekly look at commercial real estate. For commercial real estate help in Florida, find us at www.blueboxre.com. Links to an article by GlobeSt referenced in the show: https://www.globest.com/2024/07/17/why-bidens-rent-cap-proposal-isnt-going-to-happen/  #commercialproperty #property #biden #rentcontrol